GBP/USD Comments: • Bijoy Kar: The expanding triangle that has developed in the daily timeframe is often associated with reversal patterns. We remain biased to the downside. • Ilian Yotov: The GBP could stay well bid on Bank of England rate hike expectations, but the U.K. economic data must show strength to support that view. • Yohay Elam: With easing inflationary pressures and a weak economy, the pound is likely to continue shaking, and then drop...
EUR/USD Comments: • Valeria Bednarik: Despite recent sovereign debt woes interrupted it, the long term bullish trend remains intact. Rates differentials will keep favoring the common currency as long as above 1.4200 now. • Ilian Yotov: With more and more talk about debt restructuring becoming the next phase of the EU crisis, further EUR gains could be limited, especially if the single currency fails to break decisively above the $1.45/$1.4580 area. • Yohay Elam: While the rate hike next week continues to support the common currency, the situation in Portugal and Greece is likely to weigh on EUR/USD. • Goncalo Moreira: From now on, EUR may overshoot before reversing.
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USD/JPY Comments: • Ilian Yotov: Fed exit expectations and the perception of Bank of Japan as the last in line to exit its accommodative monetary policy are helping the USD to stand on its own feet against the JPY. Further stregthening could follow a welcomed correction of the recent USD gains vs. JPY. • Yohay Elam: The rise of Dollar/Yen finally began and hasn't ended yet. The situation in Japan, which wasn't too good before the catastrophe, and the rising US yields, as QE2 is about to end, all point in the same direction for the pair: up. • Goncalo Moreira: Consider 81,50 is a demand level, not so much a target for shorts.
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USD/CHF Comments: • ecPulse.com: Sustained break back below 0.8910 threatens the recovery outlook and if that occurred we will look forward to start a huge recovery from 0.8795. • Ilian Yotov: The multi-year bullish trend of the CHF vs. USD is still strong and only a Fed exit from their current ultra-accommodative monetary policy could reverse it. • Yohay Elam: The ultimate safe haven currency continues to have all the reasons to rise, as Mid-East tensions are huge. Nevertheless, in the long term, the excessive strength might give way to a correction.
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Keys: • Bearish: Belief that a particular currency is about to fall in value; understood as a general pessimistic trend about the state of that given currency. • Bullish: Belief that a particular currency is about to rise in value; understood as a general optimism about the state of that given currency. Sideways: A sideways trend manifests when the volume of a currency pair bought and the volume of the same pair sold at a particular price are in balance or nearly in balance.
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